Altrincham-based insurance provider, ABC+ Warranty, has launched its first-ever insurance product focused on aiding social housing developments.
The structural warranty provider is now offering a more flexible approach to its social housing policies, with tailored warranties available to address Developer Liability Periods for Housing Associations.
ABC+ Warranty is among a small number of nationwide warranty providers to offer policies tailored to a housing association’s requirements. The bespoke offering will be available on all social housing projects with a rebuild value of up to £10m per property.
The product has been launched in response to market demands for comprehensive financial protection for social housing schemes.
Social Housing Structural Warranty policies, also known as Social Housing Latent Defects Insurance, offer building insurance designed to provide additional financial security and mitigate risks for housing associations and developers.
The insurance helps to safeguard social housing schemes, ensuring properties are safe for occupancy while eliminating any liability risks associated with structural issues.
The warranty is available for properties intended for social housing purposes only, either as dedicated social housing units or as part of mixed-use developments.
The move forms part of ABC+ Warranty’s plans to support the social housing sector and will help housing associations across the UK secure more thorough protection for ongoing and future developments.
Adele Reid, Managing Director at ABC+ Warranty, said: “It’s fantastic to finally roll out our Social Housing Policies, which we’re hopeful will go a long way towards helping housing associations build more much-needed homes across the UK.
“For companies wanting to take the risk factor out of a building project, appointing a structural warranty provider from the offset is crucial and it’s no different for housing associations.
“By obtaining one of our new policies, companies can secure the necessary funding for new projects, while also increasing the value of completed properties. It’s a win-win for the social housing sector.”
